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general:bank_recon_helpful_tips

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general:bank_recon_helpful_tips [2018/10/22 21:47] – emorenogeneral:bank_recon_helpful_tips [2024/05/28 16:19] (current) – emoreno
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-===== Bank Reconciliation Q & A =====+===== Bank Reconciliation Questions & Answers =====
    
  
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   * If you have a clearing account at the bank, and you transfer money from your local maintenance or general operating account to that clearing account each time you run payroll or cut accounts payable checks, you will see a transfer on your bank statements. By including auto JVs, a corresponding journal voucher is listed on your reports allowing you to mark it. This allows your reports to more accurately match your bank statements.    * If you have a clearing account at the bank, and you transfer money from your local maintenance or general operating account to that clearing account each time you run payroll or cut accounts payable checks, you will see a transfer on your bank statements. By including auto JVs, a corresponding journal voucher is listed on your reports allowing you to mark it. This allows your reports to more accurately match your bank statements. 
   * If you do not transfer money between accounts at the bank, the automatic JVs may cause confusion as they will correspond to your bank statements.   * If you do not transfer money between accounts at the bank, the automatic JVs may cause confusion as they will correspond to your bank statements.
-  * If you decide to include auto JVs, you must check the boxes to clear those applicable to the bank reconciliation to affect the system cash appropriately. Not choosing to display those means that TxEIS will assume they occurred and you will have the same result as in the “old” bank reconciliation system.+  * If you decide to include auto JVs, you must check the boxes to clear those applicable to the bank reconciliation to affect the system cash appropriately. Not choosing to display those means that ASCENDER will assume they occurred and you will have the same result as in the “old” bank reconciliation system.
  
  
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 **Answer**: No, make the necessary corrections, and import and execute the file again. Then, execute the process again on the [[bankreconciliation:maintenance:banktransactions:createtransactions|Bank Reconciliation > Maintenance > Bank Transactions > Create Transactions]] tab. This allows any selected items to remain selected and display as cleared. **Answer**: No, make the necessary corrections, and import and execute the file again. Then, execute the process again on the [[bankreconciliation:maintenance:banktransactions:createtransactions|Bank Reconciliation > Maintenance > Bank Transactions > Create Transactions]] tab. This allows any selected items to remain selected and display as cleared.
  
-{{:bankreconciliation:tables:bank_recon_q_a.jpg|Bank Reconciliation Create Transactions Tab}} 
  
  
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 **Answer**: Click {{:images:blue_small_picklist.jpg|Ellipsis Icon}} next to the **Recon Title** field to retrieve a reconciled report.  **Answer**: Click {{:images:blue_small_picklist.jpg|Ellipsis Icon}} next to the **Recon Title** field to retrieve a reconciled report. 
  
-{{:bankreconciliation:tables:bank_recon_q_a_image_2.jpg|Bank Reconciliation Page With Highlighted Ellipsis Icon}} 
  
-The Reconciliation Search pop-up window is displayed. Select **Reconciled** and click **Search**. 
  
-{{:bankreconciliation:tables:bank_recon_q_a_image_3.jpg|Bank Reconciliation Search Pop Up Window}}+The Reconciliation Search pop-up window opens. Select **Reconciled** and click **Search**. 
  
 A list of all reconciled bank reconciliations is displayed. You may need to use the pagination buttons (at the bottom of the page) to page forward. Click the reconciliation title that you want to retrieve. A list of all reconciled bank reconciliations is displayed. You may need to use the pagination buttons (at the bottom of the page) to page forward. Click the reconciliation title that you want to retrieve.
  
-{{:bankreconciliation:tables:bank_recon_q_a_image_5.jpg|Bank Reconciliation Search Pop Up Window With Reconciliation List}} 
  
 The page only displays the items that were reconciled along with the totals.   The page only displays the items that were reconciled along with the totals.  
  
-{{:bankreconciliation:tables:bank_recon_q_a_image_6.jpg|Bank Reconciliation Page With Print Button}} 
  
 Click **Print** to display all of the reports for the selected reconciliation. All of the transactions for the selected reconciliation including any outstanding items and cleared items along with the totals are displayed.  Click **Print** to display all of the reports for the selected reconciliation. All of the transactions for the selected reconciliation including any outstanding items and cleared items along with the totals are displayed. 
- 
-{{:bankreconciliation:tables:bank_recon_q_a_image_7.jpg|Bank Reconciliation Sample Report}} 
- 
-{{:bankreconciliation:tables:bank_recon_q_a_image_8.jpg|Bank Reconciliation Sample Report}} 
  
  
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 </WRAP> </WRAP>
  
-{{:bankreconciliation:tables:bank_recon_q_a_image_9.jpg|Bank Reconciliation Page}} 
  
  
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 **Question**: At what point can I change the layout to double column from the single column or make any other changes to the tables? **Question**: At what point can I change the layout to double column from the single column or make any other changes to the tables?
  
-**Answer**: You can make changes to the layout tables after you create the transactions, but before you enter the **Recon Title** on the [[bankreconciliation:maintenance:bankreconciliation|Bank Reconciliation > Maintenance > Bank Reconciliation]] page. For best practice, it is recommended to first verify your tables prior to beginning a bank reconciliation. Use the [[bankreconciliation:tables:reconciliationlayout:layout|Bank Reconciliation > Tables > Reconciliation Layout > Layout]] tab to verify that //Double Column// is selected in the **Reconciliation Layout Type** field. +**Answer**: You can make changes to the layout tables after you create the transactions, but before you enter the **Recon Title** on the [[bankreconciliation:maintenance:bankreconciliation|Bank Reconciliation > Maintenance > Bank Reconciliation]] page. It is best practice to first verify your tables prior to beginning a bank reconciliation. Use the [[bankreconciliation:tables:reconciliationlayout:layout|Bank Reconciliation > Tables > Reconciliation Layout > Layout]] tab to verify that //Double Column// is selected in the **Reconciliation Layout Type** field. 
  
 **Question**: How can I view bank reconciliations prior to the new Bank Reconciliation application? **Question**: How can I view bank reconciliations prior to the new Bank Reconciliation application?
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 **Answer**: Yes, an accounting period can be closed in Finance without reconciling the bank statement. However, closing the current month prevents you from adding or adjusting transactions for that accounting period. It is necessary to make the adjustments in the next/open accounting period and carry the adjusted amounts as a miscellaneous adjustment until the next reconciliation where they are automatically be cleared. **Answer**: Yes, an accounting period can be closed in Finance without reconciling the bank statement. However, closing the current month prevents you from adding or adjusting transactions for that accounting period. It is necessary to make the adjustments in the next/open accounting period and carry the adjusted amounts as a miscellaneous adjustment until the next reconciliation where they are automatically be cleared.
  
-Alternatively, you can lock the current accounting period and open the next. This prevents users who do not have the correct permission on the [[https://tcc-help.net/txeis/districtadmin/doku.php/maintenance/userprofiles/permissions|District Administration > Maintenance > User Profiles > Permissions]] tab to post to a locked accounting period from posting to the wrong period, and it allows you to add or change transactions as needed until you are ready to reconcile and close the month.+Alternatively, you can lock the current accounting period and open the next. This prevents users who do not have the correct permission on the [[https://help.ascendertx.com/districtadmin/doku.php/maintenance/userprofiles/permissions|District Administration > Maintenance > User Profiles > Permissions]] tab to post to a locked accounting period from posting to the wrong period, and it allows you to add or change transactions as needed until you are ready to reconcile and close the month.
  
 **Question**: If the system only retrieves transactions for the current fiscal year, how are transactions from the previous file ID reconciled? **Question**: If the system only retrieves transactions for the current fiscal year, how are transactions from the previous file ID reconciled?
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 **Answer**: You will need to change the GL file ID to the previous file ID when you create a bank reconciliation for the last month of your fiscal year. **Answer**: You will need to change the GL file ID to the previous file ID when you create a bank reconciliation for the last month of your fiscal year.
  
-{{:bankreconciliation:tables:bank_recon_q_a_image_10.jpg|Bank Reconciliation Create Transactions Tab}} 
  
 **Question**: Once a bank reconciliation is started, it does not reflect a change made to a cash receipt in Finance. You have to recreate the transaction to bring in the new cash receipt amount then delete the original receipt amount on the [[bankreconciliation:maintenance:banktransactions:transactionmaintenance|Bank Reconciliation > Maintenance > Bank Transactions > Transaction Maintenance]] tab. Instead of recreating and deleting, can I update the amount on the [[bankreconciliation:maintenance:banktransactions:transactionmaintenance|Bank Reconciliation > Maintenance > Bank Transactions > Transaction Maintenance]] tab? **Question**: Once a bank reconciliation is started, it does not reflect a change made to a cash receipt in Finance. You have to recreate the transaction to bring in the new cash receipt amount then delete the original receipt amount on the [[bankreconciliation:maintenance:banktransactions:transactionmaintenance|Bank Reconciliation > Maintenance > Bank Transactions > Transaction Maintenance]] tab. Instead of recreating and deleting, can I update the amount on the [[bankreconciliation:maintenance:banktransactions:transactionmaintenance|Bank Reconciliation > Maintenance > Bank Transactions > Transaction Maintenance]] tab?
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 **Answer**: Yes, if you made a change to a cash receipt in Finance and you have not recreated the reconciliation since the change, instead of deleting the original amount and recreating, you can update the cash receipt on the Transaction Maintenance page. **Answer**: Yes, if you made a change to a cash receipt in Finance and you have not recreated the reconciliation since the change, instead of deleting the original amount and recreating, you can update the cash receipt on the Transaction Maintenance page.
  
-{{:bankreconciliation:tables:bank_recon_q_a_image_11.jpg|Bank Reconciliation Transaction Maintenance Tab}} +
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general/bank_recon_helpful_tips.1540244867.txt.gz · Last modified: 2018/10/22 16:47 (external edit)

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